The map of the market (Stock Market Today) will change at the beginning of the week. Equity indices started booking gains on Friday following weak cues from the share market. In that regard, shares of IDBI Bank, Suzlon Energy, RIL, HDFC Bank, Kotak Bank, and JSW Steel are in the headlines in today’s trading.
Wipro: IT firm Wipro last Friday reported a Q1 FY25 net profit of Rs 3,036.6 crore, up 5.2 percent Y-o-Y and 6.2 percent Q-o-Q. This beat the Bloomberg estimate by Rs 2,931 crore. India’s fourth-largest IT services company marginally raised its revenue guidance for the second quarter of FY25 to +1 percent from -1 percent.
Kotak Mahindra Bank: Kotak Mahindra Bank reported a consolidated net profit of Rs 7,448 crore for Q1 FY25, up 79 percent year over year. This includes gains from the transfer of a 70 percent stake in Kotak General Insurance Company to Zurich Insurance Group.
Q1FY25 (June Quarter) Results on July 22, 2024: Coforge, Cyient DLM, Dodla Dairy, Greenlam Industries, IDBI Bank, Indian Overseas Bank, Mahindra Logistics, Maharatra Scooters, Mangalore Refinery & Petrochemicals, Poly Medicure, Supreme, Energy UCO Bank, Zensor Technologies, and ZF Commercial Vehicle Control Systems India.
Reliance Industries: Mukesh Ambani-owned Reliance Industries Ltd. (RIL), after market hours last Friday, reported a 5.5 percent year-on-year (y-o-y) consolidated profit decline to Rs 15,138 crore in FY25. Revenue for the quarter stood at Rs 2.32 trillion (up 11.7 percent year over year).
HDFC Bank: HDFC Bank reported a 35 percent year-over-Y rise in net profit at Rs 16,175 crore in the June quarter, beating Bloomberg’s estimate of a consolidated net profit of Rs 15,652 crore. NII grew 26.4 percent year-over-Y to Rs 29,837 crore.
YES BANK: Yes Bank’s Q1 FY25 net profit rose 46.7 percent to Rs 502 crore, driven by strong growth in net interest income (NII), matched by a fall in provisions. The private lender’s NII rose 12.2 percent Y-o-Y and 4.2 percent Q-o-Q to Rs 2,244 crore. The bank’s net interest margin (NIM) declined to 2.4 percent from 2.5 percent in Q1 of FY24. Sequentially, NIM was flat at 2.4 percent in Q4 of FY24.
